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Here you can read useful information regarding personal and business tax.
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Business tax
How to Maintain a Healthy Cash Flow in Your Business
26.10.2021
A healthy cash flow is key when it comes to running a business. But what exactly is cash flow, why is it so important, and how can you improve on yours? What is cash flow? At its core, cash flow is the shifting of funds in and out of a business. It’s typically tracked weekly, […]
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Personal Tax
Goal Setting S.M.A.R.T.
16.07.2021
We have many ongoing goals. Some of them are daily, like cleaning my room, getting exercise. And some of them are longer term, such as education or certain accomplishments that need to be planned in advance.
Personally, I find a worksheet like this, it helps me think about my goal and forces me to think about whether they are smart. First, again, maybe I’ll quickly go over it. But you’ll want to maybe write down a specific goal that you want to accomplish and how you’re going to measure your progress.
For example, do you want to get to the next level in a game or do you want to get an A on your next history test. Then what you’re going to want to do is try to figure out whether that goal is attainable and realistic. And it really depends on the effort you plan to put into it.
Personal Tax
We CARE about you and your finances
15.07.2021
Get the financial resources and materials needed to help you cope or alleviate stress during this uncertain time, with the help of the curated CPA Profession’s Aid and Recovery Education (CARE) packages.
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Business tax
Non-for-profit (NPO) organizations have to file tax returns or not?
04.07.2021
I was asked this question by people who represent churches or different associations to which I will refer in this article as NPOs. See below what Canada Revenue Agency is saying about the obligation of filing the tax returns for NPOs. All corporations — including non-profit organizations, tax-exempt corporations, and inactive corporations — have to […]
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Business tax
Canada Emergency Business Account (CEBA)
20.12.2020
CEBA requirements and deadlines have changed: As of December 4, 2020, CEBA loans for eligible businesses will increase from $40,000 to $60,000. Applicants who have received the $40,000 CEBA loan may apply for the $20,000 expansion, which provides eligible businesses with an additional $20,000 in financing. All applicants have until March 31, 2021, to apply […]
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Events
Support for Learners
20.12.2020
You can get financial support to help with additional costs during the 2020-2021 school year due to COVID-19. Eligible parents or guardians will receive a one-time payment of: $200 for each child up to age 12 $250 for each child or youth up to age 21 with special needs The deadline to apply is January 15, 2021. Click on the […]
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Personal Tax
Grants for people
15.11.2020
Nowadays due to the 2nd wave of COVID situation, the Canadian government approved the following grants: CRB – Canada Recovery Benefit https://www.canada.ca/en/revenue-agency/services/benefits/recovery-benefit.html CRCB – Canada Recovery Caregiving Benefit https://www.canada.ca/en/revenue-agency/services/benefits/recovery-caregiving-benefit.html CRSB – Canada Recovery Sickness Benefit https://www.canada.ca/en/revenue-agency/services/benefits/recovery-sickness-benefit.html
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Personal Tax
Income Splitting
22.12.2019
Income splitting is the shifting of income from one individual who has a high tax rate to another person who has a lower tax rate. This is often done between spouses but can also be used between common-law partners and parents and their children. Income splitting has the potential to provide Canadians with a high […]
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Personal Tax
Home Office Tax Deductions
11.11.2019
If you currently work from home make sure you are taking advantage of a large range of potential savings you can find in-home office tax deductions. As an employee that works from home, it is very difficult to claim any expenses for your home office as there is a large list of conditions that you […]
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Business tax
Filing Deadline
11.11.2019
Personal tax return for the current year (2019) has to be filed on or before April 30, next year (2020). If you or your spouse or common-law partner carried on a business as self-employed in the current year (2019), your return has to be filed on or before June 15, next year (2020). However, […]
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Business tax
Non-for-profit (NPO) organisations has to file tax return or not?
10.11.2019
All corporations — including non-profit organizations, tax-exempt corporations, and inactive corporations — have to file a T2 return for every tax year, even if there is no tax payable.
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